In this talk from the recent International Marxist University, Adam Booth - a leading activist of Socialist Appeal - discusses the contradictions of capitalism and explains why it is in crisis. Visit podcast.marxist.com for the full recordings.

Apologists for capitalism argue that it is the best, most-efficient system that could ever possibly exist. But the current period of crisis and chaos prove otherwise. Today, the COVID-19 pandemic has triggered an economic collapse that threatens to throw society back to the 1930s, sending the world into a full-blown depression. Clearly, something is rotten at the heart of the system.

The advocates of Keynesian ideas – or modern varieties like Modern Monetary Theory – cannot provide a real solution to this crisis. Only the Marxist method can explain why capitalism has failed, and what the way forward is for humanity.

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